Aseer Trading, Tourism and Manufacturing Co. trimmed net loss after Zakat and tax to SAR 28.7 million for the first nine months of 2021, from SAR 32.8 million in a year-earlier period.
This was driven by lower general and administrative expenses (G&As), lower operating losses, in addition to recording FX gains.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 1,206.99 | 1,240.77 | 2.8 % |
| Gross Income | 359.13 | 356.72 | (0.7 %) |
| Operating Income | 42.57 | 47.36 | 11.2 % |
| Net Income | (32.81) | (28.73) | 12.4 % |
| Average Shares | 126.39 | 126.39 | - |
| EPS (Riyals) | (0.26) | (0.23) | 12.4 % |
Q3 2021 net loss after Zakat and tax narrowed 10.44% year-on-year (YoY) to SAR 26.6 million on lower operating losses, decreased G&As, in addition to recording FX gains.
The company also cited lower financing expenses.
On a sequential basis, net loss widened in Q3 2021, versus SAR 0.8 million in year-earlier period.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 411.24 | 411.17 | 0.0 % |
| Gross Income | 122.14 | 116.64 | (4.5 %) |
| Operating Income | 21.93 | 20.01 | (8.7 %) |
| Net Income | (29.74) | (26.56) | 10.7 % |
| Average Shares | 126.39 | 126.39 | - |
| EPS (Riyals) | (0.24) | (0.21) | 10.7 % |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 403.40 | 411.17 | 1.9 % |
| Gross Income | 114.47 | 116.64 | 1.9 % |
| Operating Income | 12.43 | 20.01 | 61.0 % |
| Net Income | (0.79) | (26.56) | (3,283.3 %) |
| Average Shares | 126.39 | 126.39 | - |
| EPS (Riyals) | (0.01) | (0.21) | (3,283.3 %) |
Total shareholders’ equity (after deducting minority equity) grew 3.6% year-on-year (YoY) to SAR 1.49 billion in the nine-month period.
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